Tag: auto dealer

Olympian or Spectator?

Posted on | by Tom Hampton Agency

Truth time my friends. This may be one of the most challenging pieces I have ever written. In November of 2019, my health took a turn, and painfully begin to control my every effort for these last 22 months.   

 

Short personal history: At 8 years old I was told I would never walk; With great perseverance and determination, the brace, wheelchair, and crutches were gone by 10 years old! I took 6 years of speech therapy as a child because I stuttered severely; I have since then, spoken freely and effortlessly. I have lived with chronic nerve pain ALL my life and put on mass doses of pain killers as a young adult; I have not taken a prescribed pain pill with any kind of regularity for over 30 years. For the past 14 years, 70 + hour work weeks were the norm and I traveled at a minimum of one week a month. For 7 of those years, I successfully managed my family’s business in conjunction with my own, after my dad passed.  

 

I tell you these pieces of my personal history to show you, my friends, that you are not alone. We are all overcoming personal and business hurdles of all varieties. Please, take care of your health. Drink plenty of water. Stay positive. And embrace challenges head-on with strength and determination! Through it all, with much support from my amazing team, I have been able to keep pursuing my goals to grow my business helping to support dealers in their own growth.  

 

Things are changing, both here at Car Guys Agency and with me personally. Most of you are used to having me pop by your lot, check up on you, and dish out some awesome advice while I am there! (Toot, Toot!! 😉)  

 

Those days my friends can sadly be no more. As much as I dislike it, my decreasing mobility has become the reality of my days. So, in the future, I will be reaching out to you via telephone, email, and text. By the way, as always, my team and I are here in any way we can help support our fellow dealers.  

 

I know how hard you are pushing yourselves, especially in this unstable market, just to keep afloat. We are not out of the woods yet. Markets are predicting there are another 6 to 8 more months of retail-priced units rolling across the auction blocks nationwide. It is unnerving to have a 60-car lot with only 14 units on it. I am also betting we will soon see Floor Plan companies start dropping dealers and smaller dealerships with limited financial resources who just cannot buy. Sooner, rather than later, the public will start pushing back at the higher retail prices and sales may just keep tanking.  

 

The nationwide market is constantly readjusting itself. The dealerships that survive and thrive over the next wave of challenges, yet again- must reinvent themselves and how they do business.  A growing dealership will be operating with new resource partners, rely even more on their communities, and embrace & adapt to changing paradigms.   

 

The large dealerships have 20+ groups of high-paid professionals that use their collective knowledge to market the company. So, with my own advice in mind, we too are adapting and redesigning how we grow as a company. To our loyal readers and longtime customers, we want to personally extend a VIP Invitation to be a part of our newest upcoming project! In June/July of 2021, Tom Hampton Agency will be forming a new group focused on bringing together like-minded dealers motivated to be a part of creating Strategic Growth Plans for the benefit of all.  If you are interested in joining and growing with us, email us here! 

 

Change is uncomfortable and often painful. I remind you; Olympians never won a medal because it was easy. They got it because they pushed, shaped, and molded their potential until the dream met reality. You have got to MOVE and DO to accomplish your goals. Repetition WILL create change in you, your salespeople, and your entire organization.   

 

To best survive this next incoming wave of industry evolution, we must grow; Grow new resources, new alliances, and more courage to jump in and start now. Waiting to see how things may go, could leave you left behind to play catch up. With great new products added to their lineup, Tom Hampton Agency is a great place to start finding those new and inventive (additional income bringing) resources! 

 

Here is to YOUR bright and successful future! Let us face this evolving world together to do and create what others say is impossible!   

  

Create-A-Great-Day,   

Tom Hampton 
832-723-3976  
[email protected]  

Getting through the slow season: Evaluating our basic operations.

Posted on | by Tom Hampton Agency

This is a shiny new year; It will be what we make of it! Poor sales are rooted in poor foundational business practices. To ensure that our dealerships have constant sales, …10, 20, 30+ units every month… then these 3 paragons of business must be done to perfection. Shall we roll up our sleeves and go to work? 

 

The foundation of any business…Communication.  
Communication, on all levels, must be concise, honest, diligent, and thoughtful in their nature. Give the client what they asked for, after you have listened thoroughly to determine you understand what they need. Provide your customers with plenty of pictures, finance requirements, options for test drive arrangements, and any other information frequently requested by customers. It is vital to get back with them in a timely manner. Try setting calendar reminders for yourself along the way or finding a good phone app by searching “Appointment Reminders.” 

 

Transparency is not just an industry buzz word. It is the future and YOUR present. 
As most business struggle to implement transparency in their operations, for us as dealers, it is very simple. We tell folks what needs to happen, what is going to happen, and hopefully entice their input during the process. Many dealerships are still suffering because they are not transparent. Ask yourself these questions when measuring your company’s transparency: 

 

Is there plenty of access to information?  

Is your website easy to navigate and intuitive?  

Are your company’s core values represented clearly?  

Is your company consistent across all platforms?  

Do you actively engage with customers & employees to encourage  feedback? 

 

The bottom line, transparency makes the buying process easier, less frightening, and much faster! 

 

TRUST, the biggie! 
Just how, my friends, do we convey trust? To start, community is a very crucial key! What your clients say about you, your inventory, your policies/practices, and how you respond when things go sideways, is where the magic happens (or doesn’t). No business is perfect. We all get the occasional black eye on social media or reviews from an unhappy customer. How we deal with those mistakes, (even when they are not our fault) is being closely watched by all those looking to do business with us! Your customer service practices are the quickest way to ensure trust and loyalty in this business (Or any for that matter!).  

 

Communication, Transparency, and Trust: Done well, equals opportunities; More opportunities, naturally more growth! As always, we are here and can assist you in the future growth of your business. Drop us an email, shoot us a text, or just pick up the phone and call to set up a consultation! 

 

Create-A-Great-Day, 

Tom Hampton 

 

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We regularly post industry updates & reminders, growth opportunities, and promotions! For a complete list of our services, please visit us at www.TomHamptonAgency.com  

TCPA Violations can cost you BIG!

Posted on | by Tom Hampton Agency

By Tom Hampton

TRUE fact, 95% of texts are read in 90 seconds or less after you send it. Texting is unquestionably an integral tool to engage consumers in 2020, HOWEVER, it is not without extensive legal and regulatory risks.

In order to survive and thrive, businesses must be mindful and play by the rules set forth by the Telephone Consumer Protection Act, known as the TCPA founded in 1991. Car dealerships directly put their business at legal and financial risk each time they text, be it to correspond with a lead, with a customer, for collections, or sending inventory pics…the list goes on! TCPA penalties START at $500 and can go up to $1500 per text sent.

Example:

A customer submits a complaint that 5 texts were sent to without their permission. At a minimum, fees will start at $2,500, likely much more, as well as setting the way to a full investigation looking for compliance violations, often adding more fines.

How can the average dealer keep track of all the texts sent by the entire team, on top of the 5,000 other things they are currently doing? The solution is very simple and so cost effective it is scary! For less than one average auction fee and no long-term contracts, you are covered-7-ways-to-Sunday, 24/7/365.

Just like having a DMS to keep all your paperwork records and compliance, this is also a tool to keep your texting compliant! Did I mention that with this service, you see it all! No more guessing what your employees are texting to prospects, customers, or account holders! No more getting blind-sided by customers who say…’your salesman told me if I did this…. then y’all would do that for me!’

SOLUTIONS are what we do at Car Guys Agency. Effective, affordable solutions for your dealership. Give me a call or visit www.carguysagency.com

The Basics

Posted on | by Tom Hampton Agency | 1 Comment on The Basics

There will always be plenty of companies contacting you professing solutions AND profits…and all you need to do, is use THEIR program/process/formula/app, for a nominal fee…. of course!  

My emails (multiple accts), Facebook, and LinkedIn accounts are flooded daily!  

“Do this and you’ll be rich in hours!”   

“Use our system and NEVER fail again”   

…yeah, yeah, yeah! Same rhetoric, different set of words from all the so-called experts.  

Please understand, that I am the first to say money spent to improve yourself and your business are solid investments in your journey to financial success and business stability; I have spent thousands educating myself! Be cautious, however. Financial investments will never return unrealistic and/or extraordinary results with little to no effort. If something promises it will, it is a scam. Change and improvement comes from continuously working at it and staying committed to achieving daily goals.  

Let’s start at the beginning and brush up on the basics! I have found these 4 fundamentals to be the cornerstone to every successful business or venture.  

  1.  Communication  

Communication is one of those things that can make or break your business. I have experienced all types of people and businesses that are not aware that real communication skills are centered around the way the other person learns; Visually, Auditorily, Kinesthetically, or by Reading/Writing. Through my investment in Neuro-Linguistic Programming training, I have learned to how to spot different cues that tell me which learning style a person most likely uses to communicate. For example, if a person’s eyes move up when you ask them a thinking question, they are visual learners and need to see the information I am presenting.  

  1. Listening  

If your customer does not feel like you are hearing them, you might miss out. What I often see happening is people listening only long enough to respond. I like to call it talking at one another. They spot (and often assume) the problem, then immediately supply a solution. After all, providing our customers with solutions IS what we are here for! By not having great listening skills, you could be missing important information that will help you completely understand what your customer wants.   

  1. Customer Service 

With great listening skills, comes GREAT customer service! Providing your customer with a top-notch experience cultivates loyal (and referring) customers. Going back to my Neuro-Linguistic Programming training, by also learning to switch communication style to match the person being engaged, conversation flows naturally, the customers’ needs are all being met, and rapport follows!  

  1. Providing Quality Products 

Being the best you is only the foundation to a great business. At the end of the day, all of that is only as good as the product/service you are providing to your customer. I also suggest investing the time to ensuring your team is well trained and knowledgeable of the products you are selling.  

These four basics of business are paramount for growth to occur. My best advice is to invest in yourself first. The rest will follow. When the time is right, reach out to us and we can get you started on your road to success. For a limited time, I am offering a FREE 30-Minute Kickstart Guidance session! Let’s brainstorm!  

Create a Great Day! 
Tom Hampton